Chorus Aviation to redeem 6% debentures Sept. 30

Executive Summary

• Chorus Aviation Inc. announced the redemption of all remaining 6.00% Convertible Senior Unsecured Debentures (Series B) due June 30, 2026.
• The redemption is scheduled for September 30, 2025, with holders receiving approximately $1,015 per $1,000 principal amount, representing principal plus accrued and unpaid interest.
• The company will use cash on hand to finance the redemption of the outstanding aggregate principal amount of $28,727,000.

Key Details

• Redemption Date: September 30, 2025.
• Instrument: 6.00% Convertible Senior Unsecured Debentures due June 30, 2026 (Series B), listed on the Toronto Stock Exchange under symbol CHR.DB.B.
• Redemption Price: Approximately $1,015 for each $1,000 principal amount.
• Accrued Interest: The redemption price includes all accrued and unpaid interest to but excluding the redemption date; debentures cease to bear interest from and after the redemption date.
• Conversion Option: Holders may elect to convert their Series B debentures into Class A variable voting shares or Class B voting shares by providing notice to the trustee by 5:00 p.m. Toronto time on September 8, 2025.
• Outstanding Principal: The aggregate principal amount of Series B debentures outstanding as of the release date is $28,727,000.
• Funding Source: Chorus will use cash on hand to finance the redemption.
• Administrative Actions: Formal notice of redemption is being delivered to the trustee (Computershare Trust Company of Canada) and holders in accordance with the indenture dated April 6, 2021, as amended.

Notable Quotes

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